Heather Stewart's economics comment + Tax and spending | The Guardianhttp://www.theguardian.com/business/series/heather-stewart-s-economics-comment+politics/taxandspending
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Autumn statement: compassionate conservatism is now officially deadhttp://www.theguardian.com/business/2012/dec/09/autumn-statement-compassionate-conservatism-officially-dead
The failure of the chancellor's economic strategy was visible to all. But it is the poisonous political calculations in Wednesday's speech that really stick in the throat<p>George Osborne's true colours had already become clear to the crowd of several tens of thousands who booed him with gusto at the Paralympics in September. But if there were any doubt that he is a true-blue Tory chancellor, it was blown away on Wednesday.</p><p>The economics of the chancellor's autumn statement were, as expected, unremittingly grim – the Office for Budget Responsibility's latest forecasts, which have been yanked back into line with the consensus, show Britain well on the way to a lost decade, with the age of austerity now expected to go on until 2017-18.</p> <a href="http://www.theguardian.com/business/2012/dec/09/autumn-statement-compassionate-conservatism-officially-dead">Continue reading...</a>Autumn statement 2012ConservativesGeorge OsborneWelfareEconomic policyTax and spendingEconomicsBudgetUK newsPoliticsBusinessSun, 09 Dec 2012 00:04:21 GMThttp://www.theguardian.com/business/2012/dec/09/autumn-statement-compassionate-conservatism-officially-deadPAGeorge Osborne: an autumn statement full of political calculation. Photograph: PAPAGeorge Osborne: an autumn statement full of political calculation. Photograph: PAHeather Stewart2012-12-09T00:04:21ZCapping tax relief for the rich is fairhttp://www.theguardian.com/business/2012/apr/14/capping-tax-relief-fair
Ignore the special pleading – the Treasury's insistence that the wealthy pay tax on at least three-quarters of their earnings is a welcome step<p>Shying away from talking about money used to be an ingrained characteristic of the British well-to-do – it was a grubby subject best left to tradespersons. That taboo has been shaken in the past two decades by the arrival of a wave of super-nouveau-riche <em>&eacute;migr&eacute;s</em> with no such compunction. But the past few days have seen an extraordinary further departure – the upper-class politicians in Downing Street, following the lead of their chum Boris, have decided to tell us not just how much they earn, but how much tax they pay.</p><p>Picking over every detail of politicians' financial affairs is not particularly constructive – it's hardly a killer question of public policy whether Osborne will benefit personally from the abolition of the 50p rate, since he certainly doesn't need the money. But his and Cameron's extraordinary decision to throw open their tax affairs for inspection does show the extent to which, in tough times, taxation has become a make-or-break issue.</p> <a href="http://www.theguardian.com/business/2012/apr/14/capping-tax-relief-fair">Continue reading...</a>Tax avoidanceTax and spendingEconomic policyEconomicsPoliticsBusinessFri, 13 Apr 2012 23:05:42 GMThttp://www.theguardian.com/business/2012/apr/14/capping-tax-relief-fairChris Ratcliffe/PAGeorge Osborne: 'shocked' at the extent of tax reliefs available to the rich. Photograph: Chris Ratcliffe/PAChris Ratcliffe/PAGeorge Osborne: 'shocked' at the extent of tax reliefs available to the rich. Photograph: Chris Ratcliffe/PAHeather Stewart2012-04-13T23:05:42ZGive the unemployed some means to live within, chancellorhttp://www.theguardian.com/business/2012/feb/19/give-unemployed-means-to-live-within
If George Osborne is going to offer targeted economic help in the budget, he must make unemployment an absolute priority<p>Despite Moody's unwelcome warning that the UK faces<a href="http://www.guardian.co.uk/business/2012/feb/14/ratings-agencies-financial-sector" title=""> a one in three risk of losing its cherished AAA rating</a>, last week's economic news – inflation down to 3.6%, unemployment rising less rapidly than at any time since last summer – came as a considerable relief to the UK's policymakers, who had begun to fear the eurozone would drag us into a deep recession.</p><p>Recent business surveys have painted a marginally less dire picture than those in the autumn that suggested activity might be &quot;falling off a cliff&quot; in a way scarily reminiscent of the post-Lehman shakeout. But even if the drama unfolding in Athens has a happy ending – which it won't – the UK is in the early stages of a prolonged adjustment to living within its means.</p> <a href="http://www.theguardian.com/business/2012/feb/19/give-unemployed-means-to-live-within">Continue reading...</a>Unemployment and employment statisticsEconomicsBusinessTax and spendingPoliticsSun, 19 Feb 2012 00:01:01 GMThttp://www.theguardian.com/business/2012/feb/19/give-unemployed-means-to-live-withinAlastair Grant/APProtest outside the Department of Work and Pensions in London as jobless figures were revealed on 15 February 2012. Photograph: Alastair Grant/APAlastair Grant/APProtest outside the Department of Work and Pensions in London as jobless figures were revealed on 15 February 2012. Photograph: Alastair Grant/APHeather Stewart2012-02-19T00:01:01ZIf you want 'responsible capitalism', prime minister, change the tax systemhttp://www.theguardian.com/business/2012/jan/22/responsible-capitalism-change-tax-system
David Cameron's speech on reform was a clever one. But if he is serious about change, there are more profound ways of changing the economy than share schemes and votes on pay<p>The moral high ground seems to be getting very crowded lately. Ed Miliband made reforming capitalism <a href="http://www.guardian.co.uk/politics/2011/sep/27/ed-miliband-speech-labour-conference" title="">the centrepiece of his Labour party conference speech;</a> Nick Clegg has argued for a <a href="http://www.guardian.co.uk/politics/2012/jan/15/nick-clegg-john-lewis-economy" title="">&quot;John Lewis economy&quot;</a>; and on Friday the prime minister joined them, laying claim to a <a href="http://www.guardian.co.uk/politics/2012/jan/19/david-cameron-pledges-popular-capitalism" title="">distinctive Conservative doctrine of &quot;popular capitalism&quot;</a>.</p><p>Cameron's speech was clever: the argument that Labour had struck a &quot;Faustian pact&quot; with the City, allowing finance to let rip while milking it for tax revenues, has more than a grain of truth in it.</p> <a href="http://www.theguardian.com/business/2012/jan/22/responsible-capitalism-change-tax-system">Continue reading...</a>Tax and spendingDavid CameronEconomic policyEconomicsPoliticsBusinessSun, 22 Jan 2012 00:07:12 GMThttp://www.theguardian.com/business/2012/jan/22/responsible-capitalism-change-tax-systemMatthew Lloyd/APDavid Cameron made little mention of tax in his speech on economic reform. Photograph: Matthew Lloyd/APMatthew Lloyd/APDavid Cameron made little mention of tax in his speech on economic reform. Photograph: Matthew Lloyd/APHeather Stewart2012-01-22T00:07:12Z